FLORIDA BUILDING CONTRACTOR BUSINESS/FINANCE
STUDY Exam 2025–2026 Accurate Real Exam Questions
and Verified Correct Answers JUST RELEASED
1. . When can you allow your employee to view their personal file? - answer>>>Whenever they wish to
2. The most important aspect to consider when bidding is: - answer>>>Profit
3. How many employees must an employer have before he must apply for workers compensation
insurance? - answer>>>1 or more
4. If I fail one or more portions of the examination, do I have to retake all parts again? - answer>>>No,
only the exams on which he or she failed to achieve a passing score
5. In order to obtain a building permit the following is required: - answer>>>Filling out an application
6. What does the acronym GAAP signify in accounting? - answer>>>Generally Accepted Accounted
Principles
7. A payment bond would be posted by the: - answer>>>Prime contractor or property owner
8. How long after I pass the examinations do I have to apply for Initial Licensure? - answer>>>Four years
9. Are contractors required to qualify a construction business? - answer>>>Yes
10. A payment bond guarantees that the bonding company will pay valid claims for unpaid bills owed by
the posting the bond. - answer>>>Prime contractor or property owner
11. Before the completion of work the person who authorizes a temporary certificate of is
the building official. - answer>>>Occupancy
, FLORIDA BUILDING CONTRACTOR BUSINESS/FINANCE
STUDY Exam 2025–2026 Accurate Real Exam Questions
and Verified Correct Answers JUST RELEASED
12. Majority for the negotiated construction contracts are on a basis. - answer>>>Cost plus
fee
13. What must a contractor do to prevent cash flow problems at the end of a construction project? -
answer>>>Obtain a line of credit from a bank
14. What should be done with the contractors IRS form W-2? - answer>>>File a copy in the contractor's
office
15. By law, your workers may not be younger than ______ of age. - answer>>>16
16. Business equity is shown on the financial statement called teh: - answer>>>Balance Sheet
17. State disability and income taxes must be: - answer>>>Reported and paid quarterly
18. The only reason an employer can lawfully deny employment is -------------------answer>>>No work
experience or social security number
19. You are permitted attempts within four years from the date of the initial licensure
examination to pass all portions of the examinations. - answer>>>Four years
20. The only time a contractor does not have to be licensed is if: - answer>>>If you are working on a
minor project and not compensated
21. When is the best time to let your attorney see your construction contract? - answer>>>After the
contract is prepared but before you sign it
22. Is compensation payable if an employee refuses to use a safety appliance like a hard hat, safety
goggles or observe a safety rule? - answer>>>Yes, but the benefits may be reduced by 25%
23. One reason why a contractor keeps change order on file is: - answer>>>By law
STUDY Exam 2025–2026 Accurate Real Exam Questions
and Verified Correct Answers JUST RELEASED
1. . When can you allow your employee to view their personal file? - answer>>>Whenever they wish to
2. The most important aspect to consider when bidding is: - answer>>>Profit
3. How many employees must an employer have before he must apply for workers compensation
insurance? - answer>>>1 or more
4. If I fail one or more portions of the examination, do I have to retake all parts again? - answer>>>No,
only the exams on which he or she failed to achieve a passing score
5. In order to obtain a building permit the following is required: - answer>>>Filling out an application
6. What does the acronym GAAP signify in accounting? - answer>>>Generally Accepted Accounted
Principles
7. A payment bond would be posted by the: - answer>>>Prime contractor or property owner
8. How long after I pass the examinations do I have to apply for Initial Licensure? - answer>>>Four years
9. Are contractors required to qualify a construction business? - answer>>>Yes
10. A payment bond guarantees that the bonding company will pay valid claims for unpaid bills owed by
the posting the bond. - answer>>>Prime contractor or property owner
11. Before the completion of work the person who authorizes a temporary certificate of is
the building official. - answer>>>Occupancy
, FLORIDA BUILDING CONTRACTOR BUSINESS/FINANCE
STUDY Exam 2025–2026 Accurate Real Exam Questions
and Verified Correct Answers JUST RELEASED
12. Majority for the negotiated construction contracts are on a basis. - answer>>>Cost plus
fee
13. What must a contractor do to prevent cash flow problems at the end of a construction project? -
answer>>>Obtain a line of credit from a bank
14. What should be done with the contractors IRS form W-2? - answer>>>File a copy in the contractor's
office
15. By law, your workers may not be younger than ______ of age. - answer>>>16
16. Business equity is shown on the financial statement called teh: - answer>>>Balance Sheet
17. State disability and income taxes must be: - answer>>>Reported and paid quarterly
18. The only reason an employer can lawfully deny employment is -------------------answer>>>No work
experience or social security number
19. You are permitted attempts within four years from the date of the initial licensure
examination to pass all portions of the examinations. - answer>>>Four years
20. The only time a contractor does not have to be licensed is if: - answer>>>If you are working on a
minor project and not compensated
21. When is the best time to let your attorney see your construction contract? - answer>>>After the
contract is prepared but before you sign it
22. Is compensation payable if an employee refuses to use a safety appliance like a hard hat, safety
goggles or observe a safety rule? - answer>>>Yes, but the benefits may be reduced by 25%
23. One reason why a contractor keeps change order on file is: - answer>>>By law
